Zumiez annual net sales decline 0.9 percent

Total net sales at Zumiez for the fourth quarter ended January 30, 2016 decreased 6.2 percent to 242.4 million dollars from 258.6 million dollars in the quarter ended January 31, 2015. Total net sales for fiscal 2015 decreased 0.9 percent to 804.2 million dollars from 811.6 million dollars in fiscal 2014.

Comparable sales decreased 9.5 percent compared to an 8.3 percent increase for the quarter, last year and comparable sales decreased 5.3 percent compared to a 4.6 percent increase for the same period, last year.

Net income declines in Q4 and FY

Net income in the quarter decreased 24.9 percent to 13.1 million dollars, or 0.50 dollar per diluted share, from net income of 17.5 million dollars, or 0.60 dollar per diluted share, in the fourth quarter of the prior fiscal year. Net income in fiscal 2015 decreased 33.4 percent to 28.8 million dollars, or 1.04 dollars per diluted share compared to net income in the prior fiscal year of 43.2 million dollars, or 1.47 dollars per diluted share.

Total net sales for the four-week period ended February 27, 2016 decreased 3.9 percent to 51.9 million dollars, compared to 54 million dollars for the four-week period ended February 28, 2015 and comparable sales decreased 8.6 percent compared with a comparable sales increase of 6.9 percent for the four-week period ended February 28, 2015.

Fiscal 2016 first quarter outlook

The company are projected to be in the range of 172 dollars to 175 million dollars resulting in a net loss per diluted share of approximately 0.07 dollars to 0.11 dollars in the first quarter of 2016. This guidance is based upon anticipated comparable sales decrease in the 5 percent to 7 percent range for the first quarter of fiscal 2016. The Company currently intends to open approximately 34 new stores in fiscal 2016, including up to 7 stores in Canada and 7 stores in Europe.